A corruption investigation into Prasanna Ranatunga has widened, with officials now probing five brokerage firms allegedly linked to threats, suspicious deposits, and a financial loss to the state.
The Commission to Investigate Allegations of Bribery or Corruption has informed the Colombo Chief Magistrate’s Court that it has launched a detailed investigation into five brokerage firms allegedly threatened by former Minister Prasanna Ranatunga. The commission said the probe is connected to serious financial irregularities and suspected attempts to pressure intermediaries during his tenure.
Ranatunga, who faces charges of misappropriating public funds and causing losses to the government, was produced before Colombo Chief Magistrate Asanga S. Bodaragama last week. He was granted bail on a cash bond of Rs. 100,000 with two sureties of Rs. 500,000 each.
According to investigators, Ranatunga is accused of causing a loss of Rs. 4,750,828.72 to the Sri Lanka Insurance Corporation through the illegal appointment of a private brokerage firm to provide direct medical insurance cover to employees of four state institutions under the Ministry of Tourism. The commission told the court that the funds obtained by the brokerage firm were allegedly deposited into five separate accounts, prompting an inquiry to identify the holders of those accounts.
Chief Inspector Gamini Abeysinghe, representing the Bribery Commission, told the court that the firm’s services were obtained “without following the procurement process.” However, Ranatunga’s lawyer, Anil Silva, stated that the money was used “to bring back Sri Lankans stranded in Kuwait during the Covid-19 pandemic,” arguing that the former minister had not personally benefited.
The case has been scheduled for further hearing on January 16, 2026.
